How China Runs Strategic Sectors Under State-Led Capitalism
China’s state-led capitalism operates through a dual-track system that distinguishes market-driven enterprises from state-function entities. Firms overseen by the State-owned Assets Supervision and Administration Commission (SASAC) compete, generate profits, and undergo market-oriented restructuring, while a parallel set of state-owned enterprises (SOEs) under the Ministry of Finance function as instruments of national policy, safeguarding fiscal stability, … Read more